Diliberto Real Estate to Auction Roosevelt Collection
One of Chicago’s largest planned developments at Roosevelt Road and the Chicago River is hitting the auction block.
The Roosevelt Collection is currently listed as a city plan and includes a total of 1,500 residential units and 500,000 square feet of retail space. The five-acre site contains 837 feet of river frontage and 216 feet of views facing Roosevelt Road.
Currently, the planned development for the property is for residential, office and retail facilities, but it can be revised to other types of uses including hotels and entertainment venues.
“The auction will reach out to potential buyers in and outside Illinois, enticing investors, corporate users and perhaps hotel flags to look to Chicago for real estate investment,” said Frank Diliberto, president of Diliberto Real Estate. “Today, selling real estate is no longer just about marketing, it’s about working with the city, creating viable development plans and growth for jobs.”
Located in the South Loop District of Chicago, the Roosevelt Collection offers over a million square feet of shopping, dining and lifestyle activities, as well as residential opportunities. Nearby attractions and developments include Taylor Street Corridor, Printers Row, Dearborn Park, Central Station and University Village. The property is also near popular destinations such as Museum Park and the Financial District.
The national real estate advisory, auction and finance advisory firm will work with the commercial real estate company Jos. Cacciatore & Co. Real Estate to assign a buyer during the auction.
“Our unique ties to banking and financing and our 105 years in Chicago real estate, offer options to buyers for this property, which do not exist for other properties,” said Peter Cacciatore, president of Jos. Cacciatore & Co. Real Estate.